BALANCE SHEET ANALYSIS
Complete the balance sheet and sales information using the following financial data:
Total assets turnover: 1x
Days sales outstanding: 38 daysa
Inventory turnover ratio: 3x
Fixed assets turnover: 3.5x
Current ratio: 1.6x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25%
Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent.
cash / current liabilities
accounts receivable / long-term debt = $30,000
inventories / common stock
fixed assets / retained earnings = $60,000
total assets = $200,000 / total liabilities and equity
sales / cost of goods sold